What 2015 Tax Records Can You Toss
Once You've Filed Your Return?
short answer is: none. You need to hold on to all of your 2015
tax records for now.
But this is a great time to take
a look at your records for previous tax years and determine
what you can purge.
The 3-year rule
At minimum, keep tax records for as long as the IRS has the
ability to audit your return or assess additional taxes, which
generally is three years after you file your return. This
means you likely can shred and toss most records related to
tax returns for 2012 and earlier years.
What to keep longer
You'll need to hang on to certain records beyond the
statute of limitations:
- Keep tax returns themselves forever, so you can prove to the
IRS that you actually filed. (There's no statute of
limitations for an audit if you didn't file a return.)
- For W-2 forms, consider holding them until you begin
receiving Social Security benefits. Why? In case a question
arises regarding your work record or earnings for a particular
- For records related to real estate or investments, keep
documents as long as you own the asset, plus three years after
you sell it and report the sale on your tax return.
Just a starting point
This is only a sampling of retention guidelines for
tax-related documents. If you have questions about other
documents, please contact us. Call us at
SMEED CPA Adds Financial
Services To Help Clients With
Investments & Insurance
often we here at SMEED CPA are asked about financial issues
that impact our clients investments and their portfolios.
We always offered our opinion and suggestions but in order to
help our clients actually execute the changes we suggest,
SMEED has created a Financial Services division.
SMEED Financial Services, Inc. will be able to
work with both individual and business clients on their
investment portfolios and manage assets on their behalf.
SMEED Financial will include Michael Uadiale,
ACA, CPA, CGMA; and Pablo Blanco who has
recently joined SMEED and comes with over 18 years of
financial sales and advising experience with affluent
Watch your inbox and mail boxes for more specific information
on services SMEED Financial Services, Inc will make available
Would You Give Me Your
Feedback & Testimonial
on Our Hotline?
Hello it’s Michael Uadiale, CPA of
SMEED CPA Inc. We’ve just installed a toll-free
number that I would like for you to call and tell me how you
think we are doing as your CPA firm.
Just dial 800-609-9006
extension 3638 and follow the instructions. If we’ve
done a good job please let me know. And if we can
improve on anything, please mention that too.
Us Be Found on
Also as we expand our business,
we find more and more people are using
YELP and Google
to look for us by searching Brentwood accountant or
When they do this we want to
be FOUND on GOOGLE. One way you can help us
is to give us an
ONLINE REVIEW on our Google Maps/Places listing --->
or on our YELP local listing
click here to go to our Google Listing for SMEED CPA and
click on the
YELP link to go there.
Scroll down to the Review area.
On either site it may say: Been here?
Rate and review
You will click on the Rate and
review link and then log in, then
give us a review!
You can choose between 1 and 5
STARS and write in what you think about the tax or accounting
work we have done for you.
It's that simple. Thank
you in advance for your help and cooperation!
As always you can call our offices if you have any
questions about these or any other accounting related issues, at
Regards, Michael Uadiale, CPA,
Managing Partner, SMEED CPA,